Cynosure Group LLC Boosts Holdings in CDW Co. (NASDAQ:CDW)

Cynosure Group LLC lifted its holdings in shares of CDW Co. (NASDAQ:CDW) by 233.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,464 shares of the information technology services provider’s stock after purchasing an additional 8,022 shares during the quarter. Cynosure Group LLC’s holdings in CDW were worth $2,594,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in CDW. RDA Financial Network raised its position in CDW by 3.0% in the 2nd quarter. RDA Financial Network now owns 1,587 shares of the information technology services provider’s stock worth $355,000 after purchasing an additional 46 shares during the period. PDS Planning Inc lifted its position in CDW by 4.3% during the third quarter. PDS Planning Inc now owns 1,186 shares of the information technology services provider’s stock valued at $268,000 after buying an additional 49 shares during the period. Oregon Public Employees Retirement Fund lifted its position in CDW by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 11,541 shares of the information technology services provider’s stock valued at $2,583,000 after acquiring an additional 54 shares during the period. Profund Advisors LLC boosted its position in shares of CDW by 0.5% in the 2nd quarter. Profund Advisors LLC now owns 12,469 shares of the information technology services provider’s stock worth $2,791,000 after purchasing an additional 58 shares in the last quarter. Finally, OneAscent Wealth Management LLC grew its stake in shares of CDW by 2.5% in the third quarter. OneAscent Wealth Management LLC now owns 2,387 shares of the information technology services provider’s stock worth $540,000 after acquiring an additional 58 shares during the last quarter. Institutional investors own 93.15% of the company’s stock.

Analyst Upgrades and Downgrades

CDW has been the subject of several analyst reports. Barclays reduced their price target on shares of CDW from $229.00 to $201.00 and set an “equal weight” rating for the company in a research report on Thursday, October 31st. Citigroup cut shares of CDW from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $250.00 to $245.00 in a report on Tuesday, October 1st. Redburn Atlantic assumed coverage on shares of CDW in a report on Friday, November 15th. They issued a “buy” rating and a $230.00 target price on the stock. Finally, JPMorgan Chase & Co. lowered shares of CDW from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $260.00 to $235.00 in a research note on Monday, October 28th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $244.63.

CDW Price Performance

Shares of CDW stock opened at $177.80 on Wednesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.28 and a current ratio of 1.40. CDW Co. has a one year low of $172.95 and a one year high of $263.37. The stock’s fifty day moving average is $208.69 and its 200 day moving average is $218.12. The stock has a market cap of $23.69 billion, a P/E ratio of 21.74, a P/E/G ratio of 5.10 and a beta of 1.05.

CDW (NASDAQ:CDW) last posted its quarterly earnings data on Wednesday, October 30th. The information technology services provider reported $2.63 earnings per share for the quarter, missing analysts’ consensus estimates of $2.68 by ($0.05). CDW had a net margin of 5.33% and a return on equity of 58.31%. The firm had revenue of $5.52 billion for the quarter, compared to the consensus estimate of $5.72 billion. During the same quarter last year, the firm earned $2.60 EPS. The company’s revenue was down 2.0% on a year-over-year basis. Sell-side analysts anticipate that CDW Co. will post 8.99 earnings per share for the current year.

CDW Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.625 per share. This is an increase from CDW’s previous quarterly dividend of $0.62. This represents a $2.50 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Monday, November 25th. CDW’s dividend payout ratio (DPR) is presently 30.56%.

CDW Company Profile

CDW Corporation provides information technology (IT) solutions in the United States, the United Kingdom, and Canada. It operates through three segments: Corporate, Small Business, and Public. The company offers discrete hardware and software products and services, as well as integrated IT solutions, including on-premise and cloud capabilities across hybrid infrastructure, digital experience, and security.